World's first forest bond beats expectations

By Barbara Lewis and Karin Strohecker LONDON (Reuters) - A green investment that for the first time channels private money into protecting forests has raised twice as much planned, its issuers said on Tuesday. A branch of the World Bank and miner BHP Billiton are backing the bond, which is also a first in allowing investors to opt to be paid in carbon credits rather than cash. Three years in the making, the forest bond has raised $152 million from institutional investors, such as pension funds,